PHOENIX—The city's skyline will have a very different look come2017 as Chicago-based Smith Partners LLC isexpected to break ground in August on a massive development.

Phoenix Central Station will include about 475 apartments,30,000 square feet of commercial space and a dog park. The 34-storyglass tower will be Phoenix's tallest residential high-risebuilding. The $82 million development will sit at 300 N. CentralAve., where there is a transit station. The city owns theproperty.

Phoenix leaders voted 6-2 to approve the terms of a developmentagreement earlier this month. The deal includes an incentivepackage that city officials say is necessary to attract developmentto downtown on a large scale.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.